Just when you thought life couldn’t get any worse, the government drops some very ominous hints that they’re going to raise the GST very soon.
Some businesses have even taken advantage of the GST hike to raise prices above and beyond the two per cent increase. For instance, the ironically-named Rich and Good Cake Shop, which used to see snaking queues daily, has raised prices by up to 33 per cent, much to the fury and wrath of Singapore netizens.
Vehicle owners have been the first to feel the pinch, but soon everyone else will, too. Rising oil prices will eventually result in higher public transport fares, higher car hire fares, higher taxi fares and higher air ticket prices. Comfort Delgro has already announced a fare hike, and we’re waiting with bated breath for SMRT, SBS and other transport companies to do the same. SBS has announced that they will be purchasing cleaner-energy public buses from now on. But given that electricity sources here are not exactly clean, that will not translate to lower fares.To add insult to injury, COEs are now sky high, with motorcycle COEs having crossed the $10,000 mark for the first time in history.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2022: GST increase to be staggered over 2 years, starting from Jan 2023SINGAPORE — The Goods and Services Tax (GST) will be increased progressively, rising to 8 per cent with effect from Jan 1, 2023, and going up again to 9 per cent in 2024, Finance Minister Lawrence Wong announced on Friday (Feb 18).
Source: TODAYonline - 🏆 1. / 99 Read more »
Budget 2022: What help will Singaporeans get to offset the GST hike?Between 2023 and 2024, Singapore's goods and services tax (GST) will go up from 7 per cent to 9 per cent. But two programmes have been put...
Source: thenewpaper - 🏆 7. / 63 Read more »
From a GST hike to CDC vouchers: 9 things you need to know about Budget 2022SINGAPORE: An anticipated hike in the Goods and Service Tax (GST), as well as higher CPF contributions for older workers, were among the key announcements by Finance Minister Lawrence Wong in his Budget 2022 speech on Friday (Feb 18). Delivering his first Budget statement, with the theme “chart
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Budget 2022: Higher taxes for top tier earners, high-end properties and luxury carsSINGAPORE: Singapore will be raising the personal income tax rate for top-tier earners, alongside adjustments to property taxes and an additional levy on luxury cars. These new taxes are part of “major enhancements” to Singapore’s tax regime announced by Finance Minister Lawrence Wong in his Budget 2 Budgets Last 10 years or so , invited and granted citizenships to the new rich from around the world , now it time for them to pay back .... anyway for them those taxes is peanuts to them .... small change The direction have changed.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Star Trek 4 to start production late 2022, keen to have Chris Pine and gang returnAccording to Deadline, Paramount has begun negotiations with Chris Pine to get him to reprise his role as James T Kirk in Star Trek 4. The film has had a rocky development history, with it being reportedly shelved in early 2019 before being put back on track later in the year, only for Chris Pine and Chris Hemsworth to reportedly...
Source: asiaonecom - 🏆 10. / 59 Read more »